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Hydropower producer day-ahead market strategie offering using stochastic Bi-level optimization
KTH, School of Electrical Engineering (EES), Electric Power Systems. (Electricity Market Research Group)
(Electricity Market Research Group)
2015 (English)In: Lecture Notes in Engineering and Computer Science, 2015, Vol. 2, 1011-1016 p.Conference paper (Refereed)
Abstract [en]

This paper proposes a bi-level stochastic optimization problem (a Stackelberg game) to generate optimal bids for a profit maximizing hydropower producer and presents a mathematical approach to solve it. The first level represents the strategically acting hydropower producer also called a Stackelberg leader, while the second level represents the transmission system operator (TSO) also called a Stackelberg follower. To solve the bi-level stochastic optimization problem, the second level is replaced by its KKT (Karush-Kuhn-Tucker) optimality conditions, which results in a stochastic MPEC (mathematical program with equilibrium constraints). Finally, the stochastic MPEC is reformulated as a stochastic MILP (mixed integer linear program) using linearization and SOS<inf>1</inf> variables (special ordered sets of type 1). Results are reported studying a small case, which point out the impact on the market outcomes when a hydropower producer behaves strategically.

Place, publisher, year, edition, pages
2015. Vol. 2, 1011-1016 p.
, Lecture Notes in Engineering and Computer Science, ISSN 2078-0958
Keyword [en]
Bi-level optimization, Optimal hydropower bidding, Stochastic MPEC, Strategic behaviour, Commerce, Hydroelectric power, Optimization, Stochastic systems, Mathematical program with equilibrium constraints, Mixed integer linear program, Stochastic optimization problems, Transmission system operators, Integer programming
National Category
Mechanical Engineering
URN: urn:nbn:se:kth:diva-177242ScopusID: 2-s2.0-84937832364ISBN: 9789881925398OAI: diva2:872798
International MultiConference of Engineers and Computer Scientists 2015, IMECS 2015, 18 March 2015 through 20 March 2015

QC 20151120

Available from: 2015-11-20 Created: 2015-11-17 Last updated: 2015-11-20Bibliographically approved

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Vardanyan, YelenaHesamzadeh, Mohammad Reza
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